Nokian to build tires in Kazakhstan

Nokian Tyres plc plans to build a joint venture passenger tire factory in Kazakhstan with Ordabasy Corp. JSC. Nokian's initial share will be 10%.

However, it has the option to increase its ownership to a minimum of 50%.

Tires built at the plant will be sold in Kazakhstan, as well in Central-Asia, Russia and Eastern Europe.

The facility will come on-line during 2009 and is expected to reach full production capacity of four million tires by 2012 or 2013.